Cyndeo Wealth Partners LLC Boosts Stock Holdings in Visa Inc. (NYSE:V)

Cyndeo Wealth Partners LLC raised its holdings in shares of Visa Inc. (NYSE:V) by 1.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,355 shares of the credit-card processor’s stock after buying an additional 420 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Visa were worth $8,071,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in V. Westend Capital Management LLC purchased a new stake in shares of Visa during the first quarter worth about $25,000. POM Investment Strategies LLC boosted its holdings in shares of Visa by 970.0% during the second quarter. POM Investment Strategies LLC now owns 107 shares of the credit-card processor’s stock worth $28,000 after purchasing an additional 97 shares during the period. TruNorth Capital Management LLC boosted its holdings in shares of Visa by 211.9% during the second quarter. TruNorth Capital Management LLC now owns 131 shares of the credit-card processor’s stock worth $34,000 after purchasing an additional 89 shares during the period. Bbjs Financial Advisors LLC purchased a new stake in shares of Visa during the second quarter worth about $35,000. Finally, CarsonAllaria Wealth Management Ltd. purchased a new stake in shares of Visa during the second quarter worth about $35,000. 82.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $276.37, for a total value of $2,382,309.40. Following the sale, the chief executive officer now owns 538 shares in the company, valued at approximately $148,687.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Visa Price Performance

Shares of V opened at $290.62 on Monday. The company has a market capitalization of $531.53 billion, a P/E ratio of 32.47, a price-to-earnings-growth ratio of 2.00 and a beta of 0.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a 50 day moving average of $276.91 and a 200 day moving average of $272.88. Visa Inc. has a twelve month low of $228.03 and a twelve month high of $293.07.

Visa (NYSE:V) last issued its earnings results on Tuesday, July 23rd. The credit-card processor reported $2.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.42. Visa had a net margin of 54.72% and a return on equity of 51.94%. The company had revenue of $8.90 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter last year, the company posted $2.16 earnings per share. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. As a group, equities research analysts anticipate that Visa Inc. will post 9.92 earnings per share for the current fiscal year.

Visa Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Friday, August 9th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend was Friday, August 9th. Visa’s dividend payout ratio is currently 23.24%.

Analyst Upgrades and Downgrades

V has been the subject of several research analyst reports. Morgan Stanley restated an “overweight” rating and issued a $322.00 price objective on shares of Visa in a report on Wednesday, September 25th. Monness Crespi & Hardt restated a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Citigroup lowered their price objective on shares of Visa from $321.00 to $319.00 and set a “buy” rating for the company in a report on Wednesday, July 24th. JPMorgan Chase & Co. raised their price objective on shares of Visa from $290.00 to $320.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, Evercore ISI lowered their price objective on shares of Visa from $335.00 to $330.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $314.19.

Visa Company Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.